To calculate the interest Gina will receive for a loan of $300 at an interest rate of 10% per year for 6 months, you can use the formula for simple interest:
\[ \text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time} \]
Where:
- Principal = $300
- Rate = 10% per year (or 0.10 as a decimal)
- Time = 6 months (which is \( \frac{6}{12} = 0.5 \) years)
Now, plug in the values:
\[ \text{Interest} = 300 \times 0.10 \times 0.5 \]
\[ \text{Interest} = 300 \times 0.05 \]
\[ \text{Interest} = 15 \]
So, Gina will get $15 in interest if Gerry pays her after 6 months.
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